Franklin Resources Inc. Decreases Stake in Elevance Health, Inc. $ELV

by · The Markets Daily

Franklin Resources Inc. lowered its position in Elevance Health, Inc. (NYSE:ELV – Free Report) by 21.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 838,758 shares of the company’s stock after selling 227,177 shares during the period. Franklin Resources Inc.’s holdings in Elevance Health were worth $294,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Elevance Health by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after purchasing an additional 141,747 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Elevance Health by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 6,621,297 shares of the company’s stock valued at $2,139,473,000 after purchasing an additional 303,099 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Elevance Health by 24.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after purchasing an additional 901,626 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after purchasing an additional 24,271 shares in the last quarter. Finally, Norges Bank purchased a new position in Elevance Health in the 4th quarter valued at $1,058,165,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

ELV has been the topic of a number of research reports. Robert W. Baird raised their price objective on Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $363.00 to $498.00 in a report on Wednesday, May 20th. The Goldman Sachs Group raised their price objective on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Bank of America raised their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $416.11.

Read Our Latest Research Report on ELV

Elevance Health Stock Up 1.4%

Shares of ELV opened at $424.16 on Wednesday. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $426.66. The company has a market capitalization of $92.11 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.67. The stock has a fifty day simple moving average of $360.00 and a two-hundred day simple moving average of $343.26. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same period last year, the company earned $11.97 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts forecast that Elevance Health, Inc. will post 26.94 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Elevance Health Profile

(Free Report)

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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